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Stock Alert: Equillium Surges As Co. Said Its Itolizumab Reduces Mortality In Patients With COVID-19

Shares of Equillium, Inc. (EQ) nearly triples on Monday morning after the company said a clinical trial demonstrated that itolizumab significantly reduced mortality in patients with COVID-19.

EQ is currently trading at $8.68, up $5.49 or 172.10%, on the Nasdaq.

Equillium, a clinical-stage biotechnology company developing itolizumab to treat severe autoimmune and inflammatory disorders, said a clinical trial conducted in India by Biocon demonstrated that itolizumab significantly reduced mortality in patients hospitalized with COVID-19.

Biocon has announced that the Drugs Controller General of India, the regulatory agency that oversees drug approvals, has granted restricted emergency use of itolizumab for the treatment of cytokine release syndrome in COVID-19 patients with moderate to severe acute respiratory distress syndrome in India.

Equillium is planning to conduct a global randomized controlled clinical trial of itolizumab in COVID-19 patients for which it will file a U.S. investigational new drug application.

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